Stock market today: After three days of selling, the equities benchmark indexes Sensex and Nifty began Friday’s session on a calm note. The 30-share BSE Sensex rose 187.71 points to 66,417.95 in early session. The Nifty rose 49.8 points to 19,792.15.
However, both benchmark indices eventually surrendered their early gains and were trading lower. The Nifty fell 71.25 points to 19,671.10, while the Sensex fell 123.33 points to 66,106.91. Among the Sensex companies, the top gainers were State Bank of India, Bajaj Finserv, IndusInd Bank, Maruti, Mahindra & Mahindra.
Markets in the United States and Asia
Wipro, Power Grid, Titan, and Tata Steel were among the laggards. On Asian markets, Seoul and Tokyo were trading in the red, while Shanghai and Hong Kong were trading in the black. The US markets finished in the red on Thursday.
Benchmark Brent crude for international oil rose 0.53 percent to USD 93.79 per barrel. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 3,007.36 crore on Thursday.
Rakeshh Mehta, Chairman of Mehta Equities Ltd., praised India’s inclusion in the JP Morgan developing countries bond index as fantastic news that will boost international investors’ access to the world’s fastest-growing major economy.
The BSE index fell 570.60 points, or 0.85%, to 66,230.24 at the close. The Nifty fell 159.05 points, or 0.80%, to 19,742.35.
JPMorgan’s emerging-markets bond index will add India.
On June 28, 2024, JPMorgan Chase & Co. will begin include Indian government bonds in its benchmark emerging-market index, a crucial milestone that might attract international capital to India’s debt market.
According to a statement from the American multinational investment firm JP Morgan, the Indian government established the “FAR program in 2020 and substantive market reforms to aid foreign portfolio investments.” As a result, the index was created.
Conclusion:-
Following three days of selling, the market benchmark indices Sensex and Nifty started Friday’s session quietly. The Nifty rose 49.8 points to 19,792.15, while the Sensex rose 187.71 points to 66,417.95 in early trading. However, both indices later gave back their initial gains and were trading lower. Among the biggest gainers were State Bank of India, Bajaj Finserv, IndusInd Bank, Maruti, and Mahindra & Mahindra. Wipro, Power Grid, Titan, and Tata Steel were laggards in the US and Asian markets. Brent crude rose 0.53% to USD 93.79 per barrel. Foreign institutional investors sold shares worth Rs 3,007.36 crore on Thursday. JPMorgan Chase & Co. will add Indian government bonds in its benchmark emerging-market index on June 28, 2024, if the Indian government implements the “FAR program in 2020 and substantive market reforms to aid foreign portfolio investments.”
